Discover New Zealand's most affordable suburbs for home buyers
Invercargill stands out as the most affordable city in New Zealand for home buyers, according to recent research from OneRoof.
This city boasts the highest number of suburbs where homes sell for under $500,000, offering exceptional value compared to national standards.
Suburbs below $500,000
OneRoof’s analysis covered property transactions in suburbs with at least 20 sales over the past year.
Out of 859 suburbs reviewed, 81 (9% of the total) reported average property prices below the half-million mark.
Mataura in Gore features the lowest average prices, with homes typically selling for just under $300,000.
Other notably affordable areas include Patea in South Taranaki, Kaitangata in Clutha, Wairoa in Hawke’s Bay, and Runanga in Grey, with property values ranging from $306,000 to $324,000.
Regional trends
The West Coast and Southland are prominent on the list of affordable regions, with average property values around $500,000.
Despite most affordable suburbs being located in smaller towns or rural areas, 29 of these suburbs are situated in urban areas with robust employment opportunities and good amenities.
City insights
Invercargill not only offers the most affordable suburban options but also the greatest number, with 14 of its suburbs recording average property values under $500,000.
The cheapest suburb in Invercargill, Appleby, shows an average property value of $353,000. Other suburbs like Bluff, Kew, Clifton, Strathern, and Georgetown also present homes in the $300,000s.
Affordability in larger cities
Beyond Invercargill, affordable homes can also be found in Christchurch, Dunedin, and Wellington.
In Christchurch, homes in Phillipstown, Aranui, and Linwood are priced below $500,000.
Dunedin offers affordable options in South Dunedin, Forbury, Caversham, Calton Hill, and Liberton. Meanwhile, Wellington Central is highlighted for its comparatively lower average property value at $483,000, OneRoof reported.
Despite rising property prices post-COVID, these findings illustrate that affordable housing opportunities still exist across New Zealand, particularly in Invercargill and several larger cities, providing viable options for first-home buyers and budget-conscious investors.
Visit OneRoof for the complete list of New Zealand’s most affordable suburbs.
